Wednesday, March 22, 2023

Commercial banks losing millions of Pula to staff theft

Bank ABC was this week investigating an incident in which a staff member is reported to have stolen P2 million hardly a year after the bank lost P 5 million in theft believed to have been masterminded by staff . These are just two of the many theft cases Bank ABC is currently investigating yet the bank still considers itself the luckiest bank in the country as it is the least hit by the spate of in house theft reported to be bleeding commercial banks millions of pula every year.

Detective Superintendent Violet Tebape of Serious Crime Squad confirmed that they were investigating a BancABC staff member in connection with the P 2 million theft adding that they already have a number of cases they are investigating at BancABC. She however indicated that BancABC has fewer cases as compared to other commercial banks. 

“It is true that my office is investigating a case in which over P2 million was stolen from Bank ABC by a certain employee who is assisting us with the investigation,” he said.

She explained although the investigations were still at an early stage, preliminary investigations have however revealed that the money was stolen in installments.

Tebape told Sunday Standard that commercial banks hardly ever recover the money stolen from their treasury because by the time they discover the theft the money would have been spent, mostly on property, so the banks resort to seizing the property and other proceeds of the theft.

“Our experience indicates that most banks do not screen candidates when hiring employees and this leads to the spate of thefts,” she said. 

Contacted for comment Tebogo Seleka of BancABC stated briefly that “there is a matter that is being dealt with, at this point however we cannot make any further comment as it is still early stages and we are in the process of reviewing the situation.”


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